The global elastic adhesives market is expected to exhibit strong progress over the forecast period till 2023, according to the latest market report from Market Research Future (MRFR). The global elastic adhesives market is mainly driven by the growing demand from the construction industry in developing economies such as China, India, and South Korea. Growing demand for stronger adhesives in the construction industry is likely to be a major driver for the global elastic adhesives market over the forecast period. The report examines the major drivers and restraints affecting the global elastic adhesives market and compiles a detailed statistical database about the market’s growth trajectory over the historical review period. The leading players in the global COVID-19 analysis on elastic adhesives market are also profiled in the report.

The construction industry is the major consumer for the elastic adhesives market application, followed by the automotive and aerospace industries. The marine sector also accounts for a sizeable share in the global elastic adhesives market. The growing construction industry in India, China, South Korea, the Philippines, Brazil, South Africa, Egypt, and other developing economies has been a major driver for the global elastic adhesives market. The global elastic adhesives market is also driven by the growing regulatory oversight in the construction industry in developing Asia Pacific economies, which has driven the demand for high-quality components. Growing demand for sturdy, long lasting construction in the infrastructure sector is likely to be a major driver for the global elastic adhesives industry.

The automotive and aerospace industries are also likely to be the biggest industries inducing demand in the elastic adhesives market due to the growing demand for lightweight construction in both industries. The aerospace industry has grown at a high rate recently due to the high demand for commercial aircraft. This has driven new production in the industry, leading to a growing demand for high-quality components such as elastic adhesives. The automotive industry is also likely to remain a notable player in the elastic adhesives market, with the growing demand for lightweight vehicles likely to drive the demand for elastic adhesives.

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Elastic Adhesives Market Competitive Analysis:

Leading players in the global elastic adhesives market include SAMEDIA, Mapei Construction Products India Pvt. Ltd., WEICON GmbH & Co KG, ThreeBond Holdings Co., Cemedine Co. Ltd., H. B. Fuller, Wacker Chemie AG, 3M, DowDuPont, Arkema, and Henkel AG & Co KGaA. Major players in the elastic adhesives market are likely to focus on product development in the coming years, with applications likely to open up in a number of end-use industries.

In September 2019, Sika showcased the SikaTack panel system, designed for construction applications.